Canadian Imperial Bank of Commerce (CM) News
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Latest CM News From Around the Web
Below are the latest news stories about Canadian Imperial Bank Of Commerce that investors may wish to consider to help them evaluate CM as an investment opportunity.
CIBC today announced that it is contributing $700,000 to local not-for-profits across Canada and the United States in support of efforts to empower Black youth, individuals and families in building strong communities.
CIBC Innovation Banking is pleased to announce a US$6 million revolving credit facility for Virginia-based Vbrick Systems Inc. ("Vbrick"), an industry-leading provider of video platform solutions. With operations in North America, Europe and Australia, the credit facility will be used to accelerate its rapid growth trajectory with investments in new customer acquisition and product innovation.
Canadian CBD company Valens GroWorks Corp. (TSX: VLNS) (OTCQX: VLNCF ) confirmed Monday it has secured up to CA$40 million (US$29 million) in financing via syndicated credit facility. The agreement between the Kelowna, British Columbia-based company, Canadian Imperial Bank of Commerce and ATB Financial will last three years. The credit facility includes CA$20 million of secured term loan and CA$20 million of secured revolving loan. Under the deal, Valens is granted up to an additional CA$10 million if it decides to raise aggregate commitments. "With our enhanced balance sheet, we are well positioned to continue to expand our innovative product portfolio, build out our custom manufacturing platform, be opportunistic in a consolidating market and maximize capital allocation to generate … ...
KELOWNA, BC , June 1, 2020 /CNW/ - Valens GroWorks Corp . (TSX: VLNS ) (OTCQX: VLNCF ) ( the "Company" or "The Valens Company"), a global leader in the end-to-end development and manufacturing of innovative, cannabinoid-based products, today announced it has entered into a syndicated credit facility (the "Credit Facility") with Canadian Imperial Bank of Commerce ("CIBC") as Co-Lead Arranger and Administrative Agent, and ATB Financial ("ATB") as Co-Lead Arranger (together, the "Lenders"). Under the terms of the credit facility, the Lenders will provide The Valens Company up to C$40 million of secured debt financing. The Credit Facility consists of a C$20 million secured term loan and a C$20 million secured revolving loan, with an accordion feature that could allow The Valens Company to i...
Canadian banks' exposure to the beleaguered energy industry contributed to plunging profits in the second quarter, but investors said that as oil prices recover, the tenfold boost in loan-loss provisions lenders made from a year earlier may be enough to absorb any losses. Meanwhile, money set aside to cover energy loan losses rose to C$450 million ($330.37 million) at Canada's four biggest banks, from C$46 million a year earlier, according to Reuters calculations.
Canadian Imperial's (CM) second-quarter fiscal 2020 results indicate rise in provisions, expenses and lower non-interest income, partly offset by improved net interest income.
According to the Chief Actuary of Canada, the CPP is safe and sustainable for the next 75 years. If you need to add more to your pension, create a separate income through the Canadian Imperial Bank of Commerce stock. The post Are Your CPP Pension Payments Safe After This Market Crash? appeared first on The Motley Fool Canada .
CIBC stock falls as soaring provisions for credit losses hit the bottom line with steep earnings declines. The post Is 6.5%-Yielding Canadian Imperial Bank of Commerce (TSX:CM) Stock a Buy? appeared first on The Motley Fool Canada .
Moody's has reviewed the following ABCP program in conjunction with the proposed addition. At this time the addition, in and of itself, will not result in any rating impact on the respective program's ABCP. Moody's does not believe it will have an adverse effect on the credit quality of the securities such that the Moody's rating is impacted.
Canadian Imperial Bank of Commerce (CIBC) reported a 70 per cent slump in quarterly profit on Thursday, as it set aside more money to cover potential loan-losses from the coronavirus pandemic.